September 7, 2018: Some Chinese companies have recently expressed their intention to establish joint ventures with Pakistani counterparts in the fields of agriculture, livestock, dairy development, and food and fruit processing in order to exploit existing potential in the local industry and work towards its development.

Intention to this effect was developed during the visit of a delegation of Sichuan International Chamber of Commerce Halal Food Professional Committee, headed by Ma Zhujin, in Islamabad Chamber of Commerce and Industry (ICCI).           

According to a press release, they expressed their interest to establish business collaborations with Pakistan in pharmaceutical and other sectors.

President ICCI Sheikh Amir Waheed, Senior Vice President Muhammad Naveed Malik and Vice President ICCI Nisar Mirza were present in the meeting.

Speaking at the occasion, Mr. Zhujin said that the Sichuan Province in South West of China holds a lot of importance for CPEC as it has a GDP of over $458 billion, being the sixth largest provincial economy of China.

Millions of Chinese Muslims were living in Sichuan, which offered additional benefits to strengthen bilateral business relations with Pakistan, he added.

Moreover, he said that a Sichuan Centre was set up in Sichuan Province to strengthen trade, cultural and educational relations between Western China and Europe and showed interest in that regard to set up a Sichuan Centre in Islamabad in collaboration with ICCI to further improve such relations with Pakistan.

He stressed that ICCI should send a delegation to Sichuan Province to explore opportunities of business partnerships with Chinese counterparts.

Addressing the delegation, President ICCI Sheikh Amir Waheed said that Pakistan and China enjoy a lasting friendship as CPEC had led to a long-term strategic partnership between the two countries.

He believes many sectors of Pakistan’s economy including agriculture, pharmaceuticals, energy, exploration of minerals and infrastructure development offer great potential for Joint Ventures and investment for Chinese investors. “The economy could then benefit from the technology and machinery brought in by the investors”, he added.

He further noted that the pharmaceutical companies of Pakistan were importing most of their raw materials from China and other countries. He also stressed that Chinese companies should set up raw material producing plants for pharma industry in Pakistan which would lower the manufacturing cost for these companies.

He said by investing in Pakistan, Chinese companies could promote exports to South Asia, Middle East, Africa and many other destinations.

(APP)

22996